Govt to introduce legislation next week to launch clampdown on money laundering: Imran

LAHORE: Prime Minister Imran Khan on Saturday said the Pakistan Tehreek-e-Insaf (PTI) government was going to introduce legislation next week to initiate a major clampdown against money laundering.

“Money laundering is causing a loss of 10 billion dollars to the country annually,” Imran Khan said while addressing a delegation of the Chamber of Commerce and Industry in Lahore.

The prime minister said mammoth international brands had started investing in the country because of increased confidence on government’s policies.

“Foreign investors have shown growing interest to invest in Pakistan because of immense market potential of the country and improved governance,” he said.

He said Japanese automaker Suzuki was going to invest 450 million dollars, while beverage brands Pepsi 800 and Coca Cola 500 million dollars into the country.

He said the return of ExxonMobil to the country after a lapse of 27 years was a testament to the fact that Pakistan was an attractive destination for foreign capital.

The PM said a Chinese automaker Foton JW in a joint venture with a Pakistani company would set up a complete vehicle manufacturing plant with an investment worth millions of dollars.

Imran Khan said Pakistani businessmen could exploit many opportunities globally to increase their exports.

In this regard, he referred to 2000 million dollar Halal industry in which Pakistani businessmen could contribute by exporting the halal meat products worldwide.

“The government is giving all out facilities to exporters for increasing the exports of the country,” he said.

The premier said the existing foreign remittances were to the tune of 20 billion dollars at present and can be enhanced to 30 billion dollars by giving more incentives.

He said we are establishing a special office to facilitate Ease of Doing Business for investors.

Imran Khan said more than 120 million youth in this country were an asset for us and the world saw them a big market for their products as well as recruiting ground for employment opportunities.

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